1st Source Bank named a new chief financial officer and chief operations officer.
The South Bend-based bank, which has a big footprint in Porter and LaPorte counties, named Brett Bauer CFO and John Bedient COO. Both were senior leaders of the bank who were promoted from within.
"Both colleagues were promoted due to their long-term service and success at 1st Source, as well as their service, dedication and desire to live the bank’s values," Chairman and CEO Christopher Murphy said. "These new responsibilities harness the unique capabilities of each for the benefit of the company, their colleagues, and most importantly, the bank’s clients and shareholders.”
Bauer, a Notre Dame graduate, has been chief investment officer since 2012. He oversaw bank funding, treasury, bank liquidity, municipal services and large CD pricing, as well as a $1 billion-plus investment portfolio. Previously employed by Bear Stearns, he's credited with vetting tax equity investments in 1st Source’s solar financing business and also oversaw its financial analysis unit.
In his new role, he will oversee accounting, finance, treasury management, investor relations and asset liability management.
“Throughout his career here Brett has lived our values and exhibited a balanced approach to managing our risks as well as using a collaborative approach to working with his colleagues," Murphy said. "We know this approach and his dedication will serve him and our organization well as he enters his new role.”
Bedient has been a leader at the bank since 2008 and as group head of Administrative Services and Retail Operations since 2018.
The Indiana University graduate will oversee a new operations group overseeing deposit and loan operations.
“John has proven his ability to handle complex organizations and tasks and has the analytical skills to work with his operations team to find new and better ways to simplify and better automate our businesses to serve clients well and operate more effectively and efficiently,” Murphy said. “We know he will continue to apply this approach to his new responsibilities and will successfully utilize this perspective to best serve our clients and communities well into the future.”
1st Source Bank has $7.7 billion in assets, making it the largest bank headquartered in northern Indiana. Founded more than 155 years ago, it has 79 branches in Indiana and Michigan.
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